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Marcia's application for a mortgage loan has been denied. To stay in compliance with ECOA and Regulation B, the Adverse Action notice sent by the lender must contain a statement that Marcia can request a specific reason for the denial if she does so within ____ days of receipt of the lender's notification.

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Lanuel

According to ECOA and Regulation B, the Adverse Action notice must contain a statement which states that Marcia can request a specific reason for the denial if she does so within sixty (60) days.

What is a mortgage loan?

A mortgage loan can be defined as a secured loan that is primarily used to finance (purchase) or maintain a property in real estate such as:

  • A land
  • A home

What is an adverse action notice?

An adverse action notice can be defined as an explanation that is given by a lender to inform a borrower that he or she has been denied credit, insurance, employment, or other benefits based on the information that were provided in a credit report.

  • Under the Equal Credit Opportunity Act (ECOA) and Regulation B, borrowers are shielded from potential credit discrimination because lenders (creditors) are mandated to inform and explain to them the reasons an adverse action was taken.

According to Equal Credit Opportunity Act (ECOA) and Regulation B, the Adverse Action notice must contain a statement which states that Marcia can request a specific reason for the denial if she does so within sixty (60) days.

Read more on mortgage loan here: https://brainly.com/question/14311797

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